Home   Browse contents   View updates   Search  
     Quick search
Go
   

Dubai Financial Services Authority (DFSA): Contents

Dubai Financial Services Authority (DFSA)
Laws
Rulebook Modules
Prudential — Investment, Insurance Intermediation and Banking Module (PIB) [VER33/02-19]
PIB App5 Market Risk
Sourcebook Modules
Consultation Papers
Policy Statements
DFSA Codes of Practice
Amendments to Legislation
Media Releases
Notices
Financial Markets Tribunal
Archive

BackText onlyPrint

You need the Flash plugin.

Download Macromedia Flash Player



  • Risk management

    • PIB A5.8.15

      (1) An Authorised FirmG must take reasonable steps to establish and maintain such systems and controls to monitor and manage its UnderwritingG and sub-underwriting business as are appropriate to the nature, scale and complexity of its UnderwritingG and sub-underwriting business.
      (2) In particular, an Authorised FirmG must have systems to monitor and control its UnderwritingG ExposuresG between the time of the initial commitment and working day one in the light of the nature of the risks incurred in the markets in question.
      Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]

      • PIB A5.8.15 Guidance

        An Authorised FirmG should take reasonable steps to:

        a. allocate responsibility for the management of its UnderwritingG and sub-underwriting business;
        b. allocate adequate resources to monitor and control its UnderwritingG and sub-underwriting business;
        c. satisfy itself that its systems to monitor ExposureG to CounterpartiesG will calculate, revise and update its ExposureG to each CounterpartyG arising from its UnderwritingG or sub-underwriting business;
        d. satisfy itself of the suitability of each person who performs functions for it in connection with the firm's UnderwritingG and sub-underwriting business having regard to the person's skill and experience; and
        e. satisfy itself that its procedures and controls to monitor and manage its UnderwritingG business address, on an on-going basis, the capacity of sub-underwriters to meet sub-underwriting commitments.
        Derived from RM111/2012 (Made 15th October 2012). [VER20/12-12]